Unity Biotechnology (NASDAQ:UBX) Shares Down 26.5% – Here’s What Happened

Shares of Unity Biotechnology, Inc. (NASDAQ:UBX) traded down 26.5% during trading on Wednesday . The stock traded as low as $1.24 and last traded at $1.33. 457,354 shares changed hands during trading, a decline of 27% from the average session volume of 628,711 shares. The stock had previously closed at $1.81.

Unity Biotechnology Stock Performance

The firm has a 50-day moving average of $1.18 and a 200-day moving average of $1.36. The firm has a market capitalization of $22.41 million, a P/E ratio of -1.02 and a beta of 0.80.

Unity Biotechnology (NASDAQ:UBX) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.02. Equities analysts anticipate that Unity Biotechnology, Inc. will post -1.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Unity Biotechnology stock. Ballentine Partners LLC purchased a new position in Unity Biotechnology, Inc. (NASDAQ:UBX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 57,046 shares of the company’s stock, valued at approximately $84,000. Ballentine Partners LLC owned 0.34% of Unity Biotechnology at the end of the most recent reporting period. Hedge funds and other institutional investors own 29.49% of the company’s stock.

About Unity Biotechnology

Unity Biotechnology, Inc, a biotechnology company, engages in the research and development of therapeutics to slow, halt, or reverse diseases of aging. The company's lead drug candidate includes UBX1325, which is Phase 2 clinical trial for the treatment of age-related diseases of the eye, including diabetic macular edema, age-related macular degeneration, and diabetic retinopathy.